The 21st AsRES conferred 7 awards on distinguished academicians for their prominent research on real estate
15 July, 2016: IIM Bangalore hosted the 21st Edition of the Asian Real Estate Society's Annual Conference (AsRES) between the 13-15th of July, 2016. The three-day, conference had academicians and practitioners with vast experience coming together to discuss the future of real estate research. AsRES 2016 also conferred 7 awards upon academicians and practitioners for their work on the subject.
- Janadhar Award for Best Paper on Policy: ‘Unconventional Monetary Policy and U.S. Housing Markets Dynamics’ by Jay Sa-Aadu, Yao-Min Chiang and James Shilling
- The Magicbricks Award for Best Paper on Housing: ‘Effects of FHA loan limit Increases by ESA 2008: Housing Demand and Moral Hazard’ by Chen Miller, Robert van Order and Min Hwang
- HDFC Award for Best Paper on Urban Economics: ‘Do Rural Migrants Benefit from Urban Labor Market Agglomeration Economies? Evidence from Chinese Cities’ by Shihe Fu and Guangliang Yang
- RICS Award for Best Paper: ‘Land Ownership and Wellbeing: Understanding the relationship between land ownership and well-being through the lens of ‘capability’ by Jyoti Rao
- HDFC award for Best Paper on Real Estate: ‘Australian Interest Rate Movements and A-REITs Performance: A Sectoral Analysis’ by Wejen Reddy and Woon-Weng Wong
- Nambiar Builders Award for Best Paper in Real Estate: ‘How Good is Being Different? The Context of Commercial Real Estate’ by Prashant Das, Patrick Smith and Paul Gallimore
- Maury Seldin Advanced Studies Institute Best Paper Award: "‘No Way to say ‘No’: Stakeholder analysis for compulsory purchase for public infrastructure project in Australia" by Jyoti Rao.
Dr. Piyush Tiwari, President, AsRES welcomed the esteemed delegates and academicians to the 21st AsRES conference.
Inaugurating the conference, Prof. Raghavan Srinivasan, Director Incharge, IIM Bangalore, said: “Real estate is a significant part of GDP, the numbers are mysterious, perhaps 15-20%. It is one of the largest employers of the country after agriculture and given the rapid urbanization, hence its research is a very critical activity for us.”
“Part of the problem in doing such research is the absence of high quality data and the other part of the problem is that the sector is very shy of becoming part of the taxation structure within the country, whether its income tax or capital gains tax or stamp duty,” Prof. R. Srinivasan added.
In his keynote address, Prof. Rajeev Gowda, Member of Parliament, talked about real estate being a major “sunrise” sector in the Indian economy with tremendous impact and potential. “When we think about the GDP and impact of the real estate sector in terms of gross value added, which is our new way of calculating, GDP is about 8% of the economy. The sector is paired amongst various other sectors, in terms of economic impact.”
“When we think of household wealth, where do people park their money? Most often, it is in real estate and gold over other kinds of financial instruments. In terms of people spending, after food, the major expense for people is housing. In terms of larger impact on economy, we have a primary sector where we get the raw materials from, including sand, which is already becoming a crisis and illegal sand mining is an issue that we are confronting in the Indian context. We have a huge employment-oriented services sector, when it comes to people who are involved in the construction process be it legal or financial components of the economy. Also, the manufacturing sector provides the actual, physical inputs we utilize and in terms of global context, it’s not just the economic impact, but the impact of construction on sustainability with regard to environment. Finally, when we think about a city and its growth we have been neglecting the environment in flavor of haphazard growth and we often pay a price for that, which we need to correct and prevent it proactively,” Prof. Rajeev Gowda added.
The conference featured four panel discussions focusing on emerging markets with topics including Affordable Housing; Sustainability, Liveability and Wellness in Real Estate; The Fragility of the World Economy and its impact on Real Estate; and Delivering Infrastructure.
The panel on ‘Affordable Housing’ focused on the Indian affordable housing segment, its challenges, issues, government initiatives and also featured recommendations for managing the shortfalls in housing for the growing population. The panelists included Vasudevan Suresh, Former Chairman and Managing Director, HUDCO; Manikandan K.P., CEO, Indian Housing Federation (IHF); Ganapathy Subramanian, CFO, Janaadhar India Pvt. Ltd. and Jayashree Kurup, Head of Content & Advisory, MagicBricks. Amrit Pandurangi, Partner, Deolitte Touche Tohmatsu India LLP., the moderator, steered the discussion towards land and its location being a big issue, lack of supporting infrastructure to build quality affordable housing, the long process of regulatory clearances, delays lead to higher cost of construction and the need to tweak existing schemes, making them much more implementable.
“Governments, whatever scheme they are planning to come up with, do not have the capacity to implement. So, while it is important that we make policies and make other changes in the market, it is also important that we also start building the serious capacity that is required. We have committed non-government organizations and volunteering organizations doing multiple work but they cannot reach the kind of the scale we are talking about – several millions in number. So it is important to attract larger corporations. They need not be existing real estate players but we need large deep pocketed experienced corporates also to come in,” said Amrit Pandurangi.
The IRES Panel on Sustainability, Liveability and Wellness in Real Estate, on Day 3 of the conference, featured panelists Dr. Clive Warren, Associate Professor in Property Studies, University of Queensland; Sanjay Prakash, Principal, SHiFT; Vijaya Vasu, HUDCO; Dr. Chandrashekar Hariharan, Chairman, BCIL; Minni Sastry, Associate Director, TERI. The panelists brought to the fore different perspectives on challenges in the Indian context on adopting sustainability to build green buildings and how it fits in with climate change and energy reduction. The panelists also discussed the gaps in policy and regulations.
The conference was organized by the Real Estate Research Initiative of IIM Bangalore in association with the University of Melbourne and University of Queensland. AsRES 2016 featured over 60 international participants from Australia, Europe, the United States of America, South Korea, Taiwan, China, Singapore, Malaysia, etc, including some top academics in real estate research.
Click here for photos of Awards Ceremony
Click here for photos of Day 1 of the conference
Click here for photos of Day 2 of the conference
The 21st AsRES conferred 7 awards on distinguished academicians for their prominent research on real estate
15 July, 2016: IIM Bangalore hosted the 21st Edition of the Asian Real Estate Society's Annual Conference (AsRES) between the 13-15th of July, 2016. The three-day, conference had academicians and practitioners with vast experience coming together to discuss the future of real estate research. AsRES 2016 also conferred 7 awards upon academicians and practitioners for their work on the subject.
- Janadhar Award for Best Paper on Policy: ‘Unconventional Monetary Policy and U.S. Housing Markets Dynamics’ by Jay Sa-Aadu, Yao-Min Chiang and James Shilling
- The Magicbricks Award for Best Paper on Housing: ‘Effects of FHA loan limit Increases by ESA 2008: Housing Demand and Moral Hazard’ by Chen Miller, Robert van Order and Min Hwang
- HDFC Award for Best Paper on Urban Economics: ‘Do Rural Migrants Benefit from Urban Labor Market Agglomeration Economies? Evidence from Chinese Cities’ by Shihe Fu and Guangliang Yang
- RICS Award for Best Paper: ‘Land Ownership and Wellbeing: Understanding the relationship between land ownership and well-being through the lens of ‘capability’ by Jyoti Rao
- HDFC award for Best Paper on Real Estate: ‘Australian Interest Rate Movements and A-REITs Performance: A Sectoral Analysis’ by Wejen Reddy and Woon-Weng Wong
- Nambiar Builders Award for Best Paper in Real Estate: ‘How Good is Being Different? The Context of Commercial Real Estate’ by Prashant Das, Patrick Smith and Paul Gallimore
- Maury Seldin Advanced Studies Institute Best Paper Award: "‘No Way to say ‘No’: Stakeholder analysis for compulsory purchase for public infrastructure project in Australia" by Jyoti Rao.
Dr. Piyush Tiwari, President, AsRES welcomed the esteemed delegates and academicians to the 21st AsRES conference.
Inaugurating the conference, Prof. Raghavan Srinivasan, Director Incharge, IIM Bangalore, said: “Real estate is a significant part of GDP, the numbers are mysterious, perhaps 15-20%. It is one of the largest employers of the country after agriculture and given the rapid urbanization, hence its research is a very critical activity for us.”
“Part of the problem in doing such research is the absence of high quality data and the other part of the problem is that the sector is very shy of becoming part of the taxation structure within the country, whether its income tax or capital gains tax or stamp duty,” Prof. R. Srinivasan added.
In his keynote address, Prof. Rajeev Gowda, Member of Parliament, talked about real estate being a major “sunrise” sector in the Indian economy with tremendous impact and potential. “When we think about the GDP and impact of the real estate sector in terms of gross value added, which is our new way of calculating, GDP is about 8% of the economy. The sector is paired amongst various other sectors, in terms of economic impact.”
“When we think of household wealth, where do people park their money? Most often, it is in real estate and gold over other kinds of financial instruments. In terms of people spending, after food, the major expense for people is housing. In terms of larger impact on economy, we have a primary sector where we get the raw materials from, including sand, which is already becoming a crisis and illegal sand mining is an issue that we are confronting in the Indian context. We have a huge employment-oriented services sector, when it comes to people who are involved in the construction process be it legal or financial components of the economy. Also, the manufacturing sector provides the actual, physical inputs we utilize and in terms of global context, it’s not just the economic impact, but the impact of construction on sustainability with regard to environment. Finally, when we think about a city and its growth we have been neglecting the environment in flavor of haphazard growth and we often pay a price for that, which we need to correct and prevent it proactively,” Prof. Rajeev Gowda added.
The conference featured four panel discussions focusing on emerging markets with topics including Affordable Housing; Sustainability, Liveability and Wellness in Real Estate; The Fragility of the World Economy and its impact on Real Estate; and Delivering Infrastructure.
The panel on ‘Affordable Housing’ focused on the Indian affordable housing segment, its challenges, issues, government initiatives and also featured recommendations for managing the shortfalls in housing for the growing population. The panelists included Vasudevan Suresh, Former Chairman and Managing Director, HUDCO; Manikandan K.P., CEO, Indian Housing Federation (IHF); Ganapathy Subramanian, CFO, Janaadhar India Pvt. Ltd. and Jayashree Kurup, Head of Content & Advisory, MagicBricks. Amrit Pandurangi, Partner, Deolitte Touche Tohmatsu India LLP., the moderator, steered the discussion towards land and its location being a big issue, lack of supporting infrastructure to build quality affordable housing, the long process of regulatory clearances, delays lead to higher cost of construction and the need to tweak existing schemes, making them much more implementable.
“Governments, whatever scheme they are planning to come up with, do not have the capacity to implement. So, while it is important that we make policies and make other changes in the market, it is also important that we also start building the serious capacity that is required. We have committed non-government organizations and volunteering organizations doing multiple work but they cannot reach the kind of the scale we are talking about – several millions in number. So it is important to attract larger corporations. They need not be existing real estate players but we need large deep pocketed experienced corporates also to come in,” said Amrit Pandurangi.
The IRES Panel on Sustainability, Liveability and Wellness in Real Estate, on Day 3 of the conference, featured panelists Dr. Clive Warren, Associate Professor in Property Studies, University of Queensland; Sanjay Prakash, Principal, SHiFT; Vijaya Vasu, HUDCO; Dr. Chandrashekar Hariharan, Chairman, BCIL; Minni Sastry, Associate Director, TERI. The panelists brought to the fore different perspectives on challenges in the Indian context on adopting sustainability to build green buildings and how it fits in with climate change and energy reduction. The panelists also discussed the gaps in policy and regulations.
The conference was organized by the Real Estate Research Initiative of IIM Bangalore in association with the University of Melbourne and University of Queensland. AsRES 2016 featured over 60 international participants from Australia, Europe, the United States of America, South Korea, Taiwan, China, Singapore, Malaysia, etc, including some top academics in real estate research.
Click here for photos of Awards Ceremony
Click here for photos of Day 1 of the conference
Click here for photos of Day 2 of the conference